LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the launch of their latest newsletter on consolidating your supply chain with the aid of supplier relationship management. Effective supplier relationship management strategies can help companies to reduce costs, minimize price volatility, and consolidate the supply chain. It can streamline and improve processes between a buyer and its suppliers.
SpendEdge’s procurement solutions have helped numerous companies to stay competitive by offering valuable insights to improve their supplier relationship management capabilities. The latest edition of SpendEdge’s newsletter will help companies to better understand different aspects of the supplier relationship management, reduce supply risk, and decrease long-term costs. It also highlights how companies can improve their relationship with suppliers and develop more efficient procure-to-pay and supply management processes.
Unfortunately, not many businesses understand that the increasing complexity of supply chains has made supplier relationship management crucial. They end up facing issues such as late deliveries, back orders, variable lead times, and incorrect shipments. To help companies understand the importance of supplier relationship management, the experts at SpendEdge have highlighted how companies can consolidate their supply chain with the aid of supplier relationship management. Download this newsletter to know how you can add value to your organization by developing bilateral, trust-based relationships with key strategic suppliers.
Implementing supplier relationship management strategies is crucial for companies to ensure the efficiency of supply management processes. Request a free proposal and we will get back to you in 48-hours.
CONSOLIDATING YOUR SUPPLY CHAIN WITH THE AID OF SUPPLIER RELATIONSHIP MANAGEMENT: A NEWSLETTER BY SPENDEDGE
#1: Why Should You Invest in Supplier Relationship Management?
Often, companies focus on fostering customer loyalty. They overlook the importance of relationships with suppliers. However, the increasing complexity of supply chains has made it imperative for businesses to invest in supplier relationship management. The article lists out some major benefits that companies can reap through supplier relationship management. It also shows how improved supplier relationships can reduce the number of RFQ situations and speed delivery schedules dramatically.
Get in touch with our procurement experts to know how we can help you reduce the number of RFQ situations and reap the benefits of supplier relationship management.
#2: Key Strategies to Improve Supplier Relationship Management
Businesses find it hard to streamline and improve processes with its suppliers. To help companies manage such situations and drive more value from suppliers, SpendEdge's experts have highlighted some supplier relationship management strategies that companies can follow. Following such strategies will not only help companies to reduce both prices paid and costs to the organization but will also help understand the credibility of their suppliers.
Implementing supply relationship management strategies requires companies to gain a thorough understanding of the supply base. Request a free demo to access our web-based platform for FREE!
#3: Does Supplier Evaluation Necessarily Need to be Difficult? Not Anymore!
Supplier relationship management helps select the right suppliers. Any accuracy in the supplier selection process can cost companies the quality of their products and lead to stability issues. Therefore, it becomes vital for companies to improve supplier selection process and ensure financial stability. The article highlights the critical steps involved in the supplier selection process. It also shows how you can identify potential suppliers and determine supply performance for your business.
To know more about the importance of supplier relationship management in the supply chain, get more info about our offerings here!
About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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